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Lockheed Reports 16% Rise in Net

Lockheed Martin Corp. said first-quarter net profit rose 16% on the strength of combat-aircraft sales and information-technology services, and it raised its earnings outlook for this year.

The Bethesda, Md., aerospace company, the biggest U.S. defense contractor, had net income of $291 million, or 65 cents a share, compared with $250 million, or 55 cents, a year earlier. Sales rose 18% to $8.35 billion from $7.06 billion. Cash flow...